FWD Group Reports Record 2025 Financial Results with Strong Growth Across Asian Markets

FWD Group Holdings Limited announced its first full-year results as a Hong Kong listed company for the 12 months ended 31 December 2025, delivering record financial performance with profitable growth and improved capital and cash flow generation. The company reported a net profit of US$166 million, representing a six-fold increase on an actual exchange rate basis, while operating profit after tax grew five per cent to US$499 million with positive contributions from all four geographic reporting segments.

The strong results were driven by organic growth across most of the 10 Asian markets where FWD Group operates, with new business sales increasing 25 per cent to US$2.446 billion compared to 2024 on an annualised premium equivalent basis. New business contractual service margin reached US$1.476 billion, representing year-on-year growth of 18 per cent. The company maintained a strong capital position with a 265 per cent solvency ratio on a prescribed capital requirement basis.

Significant improvements in shareholder value creation were achieved, with comprehensive tangible equity increasing 18 per cent to US$8.72 billion compared to 31 December 2024 and Group embedded value growing 19 per cent year-on-year to US$6.85 billion. The leverage ratio reduced to 21.3 per cent, approaching the company's target range of 15-20 per cent. For the second consecutive year, FWD Group was operating cash flow positive as at 31 December 2025.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, stated that 2025 was a stand-out year for the company, successfully executing its customer-led strategy underpinned by a digitally enabled business model. The company began trading as a publicly listed company following its July 2025 initial public offering, fulfilling a long-held objective to ensure full capital market access as a foundation for future development and growth. More information about the company is available at https://www.fwd.com.

The Hong Kong SAR & Macau SAR segment delivered a particularly outstanding performance, while Japan posted solid results as FWD began diversifying beyond its protection business into the retirement and savings segment with its first yen-denominated single premium variable annuity product. As an established market leader in Thailand, FWD remains well positioned for quality new business growth despite headwinds from a lower rate environment. Excellent growth was delivered in the Emerging Markets segment, consistent with longer-term demographic, wealth creation, and digital adoption trends in Southeast Asia.

In December 2025, FWD Group was added to the Hang Seng Composite Index and the eligible securities list for the Stock Connect programme, where Mainland Chinese investors connect via the Shanghai Stock Exchange and Shenzhen Stock Exchange with Hong Kong market opportunities through a southbound trading mechanism. The company was also included in the MSCI Hong Kong Small Cap Index in February 2026. The original release can be viewed at https://www.newmediawire.com.